BOWIE, Md. – August 6, 2019 – Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced that AstraZeneca has engaged the combined capabilities of Inovalon’s Avalere business unit and the Company’s deep data and analytical capabilities of the Inovalon ONE® Platform to develop a comprehensive value-based platform to underpin the commercialization of an innovative therapy for the treatment of Chronic Obstructive Pulmonary Disease (COPD).
Under the agreement, industry subject matter experts within Inovalon’s Avalere business unit focused on care delivery models, regulatory policy, payment model design, value-based contracting, and pharmacoeconomics will leverage Inovalon’s extensive real-world datasets and analytics within the Inovalon ONE® Platform to assess unmet needs and ideal care delivery models for patients with COPD. The initiative will focus on establishing a basis for the delivery of value-based care across multiple ecosystem stakeholders, including health plans, healthcare providers, and long-term care facilities.
One of the applications of the comprehensive value platform initiative between Inovalon and AstraZeneca is the development of evidence to inform the design of value-based agreement constructs that leverage real-time access to data and the ability to improve patient care and outcomes as well as impact the total costs of disease management.
“AstraZeneca is committed to evolving the current system towards payment based on the value medicines provide to patients, payers, and the healthcare system,” said Rick R. Suarez, senior vice president of US market access at AstraZeneca. “We are committed to furthering our work in the field of value-based agreements by designing and implementing an industry-leading value platform that articulates the benefits of our innovative therapies to all stakeholders.”
“Working together with AstraZeneca on this engagement brings to the healthcare community the meaningful benefits of data-driven healthcare,” said Matt Brow, president and general manager of Avalere. “We’re excited about our partnership with AstraZeneca, an industry leader in innovative, value-based initiatives.”
The Inovalon ONE® Platform is an integrated cloud-based platform of nearly 100 individual proprietary technology toolsets and deep data assets able to be rapidly configured to empower the operationalization of large-scale, data-driven healthcare initiatives. Each proprietary technology toolset, referred to as a Module, is informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Modules are configured to empower highly differentiated solutions for client needs quickly and in a highly scalable fashion. The flexibility of the modular design of the Platform enables clients to integrate the capabilities of the Platform with their own internal capabilities or other third-party solutions. The Platform brings to the marketplace a highly extensible, national-scale capability to interconnect with the healthcare ecosystem on a massive scale, aggregate and analyze data in petabyte volumes, arrive at sophisticated insights in real time, and drive meaningful impact wherever it is analytically identified best to intervene and intuitively visualize data and information to inform business strategy and execution.
Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its Platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of clients, including 24 of the top 25 U.S. health plans and 22 of the top 25 global pharma companies, Inovalon’s technology platforms and analytics are informed by data pertaining to more than 976,000 physicians, 535,000 clinical facilities, 278 million Americans, and nearly 46 billion medical events.
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